X Co. Ltd. purchased assets worth ₹28,80,000. It issued debentures of ₹100 each at a discount of 4% in full satisfaction of the purchase consideration. The number of debentures issued to vendors is:

30,000

The correct answer is option 1- 30,000.

Assets = ₹28,80,000
Issued Debentures of ₹100 each at a discount of 4%.

Discount = 100 x 4/100
             = 4

Issue price = 100 - 4
                = 96

No of debentures issued = Purchase consideration/Issue price
                                    = 28,80,000/96
                                    = 30,000